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New SeaWorld CEO Makes a Splash as Stock Surges

Published 11/07/2019, 11:25 AM
Updated 11/07/2019, 11:27 AM
© Reuters. - Theme park operator SeaWorld Entertainment (NYSE:SEAS) surged in midday trade on Thursday after news that an executive from the timeshare and resort industry is taking the helm.

Sergio Rivera will be the company’s CEO starting next week, the company announced. He is succeeding Gus Antorcha, who stepped down in September.

Rivera was previously the president and CEO of ILG and worked for Starwood Hotels.

Shares of SeaWorld were up 15% on the news.

Separately, SeaWorld reported disappointing third-quarter results, due to inclement weather. Revenue fell 2% due to a decline in attendance from more rainy days than usual.

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